- U.S. grain companies plan to reject Monsanto's (NYSE:MON) new genetically modified soybeans due to concerns that they could disrupt international trade without a key regulatory approval from the European Union, Dow Jones reports.
- Trade groups representing Cargill, Archer Daniels Midland (NYSE:ADM), Bunge (NYSE:BG) and other grain companies criticized MON's decision to sell the seeds before first securing an approval required to ship the crops to the EU, according to a letter reviewed by WSJ.
- The grain companies' stance is a potential blow to MON's new Roundup Ready 2 Xtend soybean seeds that MON has touted as a blockbuster for U.S. farm fields with hopes of selling ~3M acres' worth of the product to U.S. farmers this spring.
- Now read Monsanto, scientists claim breakthrough in battle against GMO crop pests